Union Minister for Electric Power,
U Khin Maung Soe and World Bank
Emphasize on Power Sector Development
The inaugural Myanmar Power Summit co-hosted by the Ministry of Electric Power and CMT gathered key officials, local and foreign industry majors and keen investors in Myanmar in late January to discuss the development of the nation's power sector.
Union Minister for Electric Power, U Khin Maung Soe emphasized that international assistance and investments are needed to develop this core sector and drive nationwide progress. He said,
"Being a vital role in economic development, power sector could be effectively and rapidly improved by cooperating with the official development assistances from inter-national organizations, investment of foreign and local stakeholders, in terms of monetary and technology as well."
A strategic development plan is of priority and the Myanmar government has been quick in its reforms and policies to ensure smooth-running.
The World Bank and IFC are amongst many other organizations that attended and benefited from the event.
The World Bank reinforced its commitment in helping Myanmar grow its economy, create jobs and reduce poverty. It will continue to work closely with Myanmar and will provide the country with $165 million in zero-interest loans to address priority needs.
Mr. Alex van Trotsenburg, President of World Bank East Asia and the Pacific, commented,
"Turning on the lights in Myanmar will enable children to read at night, and encourage villagers to start new businesses which will lead to growth and jobs. Sufficient, reliable and affordable electricity will help relieve poverty in rural areas and create opportunities for all."
Myanmar is set to see steady investments and changes in its economic and social landscape in the coming years, with international companies keeping atop of its news and progress.
Read more:
World Bank Group to Support Myanmar's Plan to Improve People's Access to Electricity
Union Minister for Electric Power, U Khin Maung Soe emphasized that international assistance and investments are needed to develop this core sector and drive nationwide progress. He said,
"Being a vital role in economic development, power sector could be effectively and rapidly improved by cooperating with the official development assistances from inter-national organizations, investment of foreign and local stakeholders, in terms of monetary and technology as well."
A strategic development plan is of priority and the Myanmar government has been quick in its reforms and policies to ensure smooth-running.
The World Bank and IFC are amongst many other organizations that attended and benefited from the event.
The World Bank reinforced its commitment in helping Myanmar grow its economy, create jobs and reduce poverty. It will continue to work closely with Myanmar and will provide the country with $165 million in zero-interest loans to address priority needs.
Mr. Alex van Trotsenburg, President of World Bank East Asia and the Pacific, commented,
"Turning on the lights in Myanmar will enable children to read at night, and encourage villagers to start new businesses which will lead to growth and jobs. Sufficient, reliable and affordable electricity will help relieve poverty in rural areas and create opportunities for all."
Myanmar is set to see steady investments and changes in its economic and social landscape in the coming years, with international companies keeping atop of its news and progress.
Read more:
World Bank Group to Support Myanmar's Plan to Improve People's Access to Electricity
Highlights of the Event
USD 3000 cash donation in support of the Myanmar government’s relief and rehabilitation efforts for all the affected communities in Rakhine State was handed to HE U Khin Maung soe, Union Minister of Electric Power.
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Certificate of Acknowledgement from the Government of the Republic of the Union of Myanmar, Ministry for Social Welfare, Relief and Resettlement for donations.
Certificate of Acknowledgement from the Government of the Republic of the Union of Myanmar, Ministry for Social Welfare, Relief and Resettlement for donations.
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